XML 47 R28.htm IDEA: XBRL DOCUMENT v3.3.1.900
Common Stock
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Common Stock

Note 19 Common Stock

 

During 2015, the Company repurchased 8,645,836 shares for $175.0 million, including completion of a tender offer through which the Company repurchased a total of 4,651,163 shares for a total price of $100.7 million.

 

On January 21, 2016, the Board of Directors authorized a new share repurchase program for up to $50.0 million from time to time in either the open market or through privately negotiated transactions. This new program, as well as the remaining $6.1 million available under the February 11, 2015 authorization, provides a total $56.1 million of authorization. 

 

The Company had 30,358,509 shares of Class A common stock and zero shares of Class B common stock outstanding as of December 31, 2015, and 38,017,179 shares of Class A common stock and 867,774 shares of Class B common stock outstanding as of December 31, 2014. During 2015, 482,045 Class B common shares were repurchased by the Company and 385,729 Class B common shares were converted to Class A common shares. Additionally, as of December 31, 2015 and 2014, the Company had 836,031 and 955,398 shares, respectively, of restricted Class A common stock issued but not yet vested under the 2014 Plan and the Prior Plan that are not included in shares outstanding until such time that they are vested; however, these shares do have voting and certain dividend rights during the vesting period.